Does this offer seem fair?

I am a first time home buyer approved for a conventional mortgage. I am interested in a property that was listed on the market at $225k in January, removed in March, and relisted at $219k in May. It has been sitting since then.

I went through the property and identified the following concerns:

  • outside walkway to the front door is a hazard and needs reparied
  • outside vinyl has algae staining and needs power washed
  • The boiler looks original, and as it is a 1950's house- will likely need replaced ASAP
  • hardwood flooring in the living room needs to be refinished
  • outside fencing needs power washed
  • firebox in the fireplace is rusted out
  • backyard needs serious work- overgrown with a water feature that is not cared for.
  • the house is filthy and needs to be professionally cleaned and painted

The current owner has lost his job and needs to downsize- but I get the sense he is very ornery and it is clear he doesn't WANT to move. He also has a clause in his listing about closing being contingent on him finding another home to live in, which he currently does not have.

Since I have never been through this before, I wasn't sure exactly what to offer or what is fair. I ended up with the following offer:

  • 200k
  • $6000 in earnest money
  • 90 day's to find a suitable home
  • no seller assistance
  • I requested professional cleaning, painting of the downstairs and neutral color and a credit towards a boiler.

I expect a counter, but I'm hoping my offer doesn't get thrown out the window. Any insight would be greatly appreciated!!

More real estate tips at Program Realty Wix site

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